Abstract

THE SOUTH African Listed Property Index (J253), commonly known as the SAPY, currently contains 22 counters with a total market capitalisation of R393 billion (3.8% of the Johannesburg Stock Exchange All Share Index, the ALSI) as at 14 December 2015. It is made up of the various types of listed Real Estate Investment Trusts (REITS) in SA. The sector has seen steady inflows, but has remained at around 4% of the JSE since its inception in March 2002.